It's not as if the Cardinals were in need of therapy, but after an offseason defined more by personnel losses than additions, some positive news was as welcome as a shady parking spot on a July afternoon.

It came Tuesday evening when cornerback Patrick Peterson and the team announced they had reached an agreement on a five-year, $70 million extension that puts Peterson under contract through 2020.

On Wednesday, no one was asking about defensive end John Abraham's DUI arrest and absence from camp. The challenge of replacing inside linebackers Daryl Washington (suspended for the year) and Karlos Dansby (left for Cleveland) never came up.

The focus was all on the Cardinals re-signing a star player with potential yet untapped.

"Guys are being rewarded from within, guys who were drafted and raised here," receiver Larry Fitzgerald said. "Guys are really happy for Pat. He's a special human being."

Peterson won't sign the contract for a day or two, so exact financial parameters are not available.

The deal includes a $15.3 million signing bonus, according to sources, and makes Peterson the highest paid cornerback in the NFL. That's according to Peterson, who mentioned that fact twice before he was asked a question in a news conference on Wednesday.

"First of all, I'd like to thank God, first and foremost, for me putting me in this position," Peterson said. "Secondly, Mr. (Mike) Bidwill for cutting a check."

That prompted laughter, as did Peterson noting that owner Bill Bidwill's 83rd birthday is Thursday.

"I'm happy we were able to get this done in time to give him a happy … well, he's probably not excited about it."

On Tuesday night, Peterson tweeted that $48 million of the contract was guaranteed, but that depends upon how strictly "guaranteed" is defined.

According to profootballtalk.com, the "guarantees" contain some team options.

Cardinals CB Patrick Peterson poses with two-month-old Ariana Ortiz while signing autographs after practice during training camp at University of Phoenix Stadium in Glendale, Ariz. July 30, 2014. Michael Chow

Cardinals offensive linemen Bobby Massie (70) and Paul Fanaika (74) line up for a play during training camp at University of Phoenix Stadium in Glendale, Ariz. July 30, 2014. Michael Chow/azcentral sports

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If Peterson is on the roster on the fifth day after the Super Bowl in February, $27.8 million of the deal becomes fully guaranteed. By that same day in 2016, $42.6 million becomes guaranteed. In 2017, the total figure climbs to $47.3 million.

That gives the Cardinals three opportunities to bail out on the deal, something that is highly unlikely.

Peterson, 24, has never missed a game and is considered among the NFL's top cornerbacks. He also can improve.

"In my humble opinion, there isn't another corner in the league that has his size, speed, explosiveness, athleticism, ball skills," General Manager Steve Keim said. "On top of that, Pat will probably be the first to tell you he hasn't even scratched the surface yet, which is actually scary, considering he can redefine the position."

There were unique challenges to reaching this extension. Peterson was the fifth overall pick in 2011, the first draft class under a collective-bargaining agreement that limited rookies' compensation.

Beginning that year, first-round picks could be signed to four-year contracts with a team option for a fifth year. The Cardinals exercised that option this spring, meaning they had Peterson under contract through 2015.

With two years left on Peterson's deal, Keim and Cardinals negotiator Mike Disner were insistent that a new contract had to make sense in the long term for the Cardinals.

The new contract won't result in new duties for Peterson. He will continue to defend the best receiver most games, mentor teammates and act much older than he is, coach Bruce Arians said.

Peterson's peers, however, might demand more of him, Arians said.

"When you're a five-star player you better play five star," he said. "Money does affect some people. They relax. I don't see that happening with Patrick. He has a drive to be the best and he's going to be covering the best every week, so it will get (him) embarrassed real quick."

Peterson has helped fuel a debate this offseason about who is the NFL's best cornerback. He and Seattle's Richard Sherman debated the point again, via Twitter, Wednesday.

Signing richer deals than Sherman or the Browns Joe Haden, who also re-signed this offseason, was important to Peterson. But Peterson added that he has "bigger goals than a massive contract."

"I want to be in the Hall of Fame one day," he said. "I haven't been to the playoffs since I've been here. I've had one winning season since I've been here. I want to bring a championship to this city, this organization, this community. I want to be here to hoist that Lombardi Trophy."